Automobile

StoreDot announces new agreement with EVE Energy

StoreDot, the pioneer of extreme fast charging (XFC) battery technology for electric vehicles (EVs), announced a new framework agreement with battery manufacturer EVE Energy (EVE) to support the commercialisation of StoreDot’s silicon-dominant anode XFC FlashBattery for EVs.

The first samples will be available later this year with a plan for mass production via conventional lithium-ion battery manufacturing lines in 2024.

EVE, listed on the Shenzhen Stock Exchange, is one of the top tier suppliers of EV and electricity storage system (ESS) batteries in China. The scope of the new framework agreement includes scale-up activities of StoreDot’s XFC technology, followed by the production of engineering samples targeted at showcasing the technology to potential EV customers. The framework agreement also covers the intention to set up a joint venture for mass production.

The new deal builds on the existing framework agreement signed by StoreDot and EVE Energy in 2018 to collaborate on a small shape for the XFC technology. In 2019, this XFC battery was used to demonstrate the world’s first full live charge of a two-wheeled EV in just five minutes. In January 2021, another major milestone was reached when StoreDot released the first engineering samples produced at EVE Energy’s facility in China.

Doron Myersdorf, StoreDot’s CEO, said: “Securing sufficient production capability is one of the biggest challenges facing any introduction of a new battery technology to market. However, from day one EVE Energy has shared our vision that XFC is fundamental to accelerate EV adoption and eventually achieve a full transition to electric mobility. EVE’s expert technical knowledge has been instrumental in helping us to reach a number of important milestones including, most recently, the launch of the small XFC samples produced on standard lithium-ion battery manufacturing lines. Importantly, this removed a major barrier to achieving full commercialization of XFC technology by eliminating the need to invest in costly bespoke manufacturing equipment for mass production.”

The revolutionary XFC FlashBattery technology redefines the chemistry of lithium-ion batteries, taking EV charging times from hours to minutes. This breakthrough is achieved primarily by replacing graphite in the cell’s anode with metalloid nano-particles, such as silicon, to overcome major issues in safety, cycle life and cell swelling during the charging process.



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